Why are Mazagon Dock shares up over 5% today? Check details

Shares of Mazagon Dock Shipbuilders Ltd. surged over 5%, trading at ₹2,409.65, after the Defence Ministry declared Larsen and Toubro’s (L&T) bid non-compliant for the ₹70,000 crore submarine project under Project 75 India.

Key Developments:

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  • The Ministry rejected L&T’s proposal in partnership with Spanish firm Navantia for not meeting the Indian Navy’s requirements for a sea-proven Air Independent Propulsion (AIP) system.
  • This leaves Mazagon Dock Shipbuilders, in partnership with Germany’s ThyssenKrupp Marine Systems, as the leading contender for the contract to build six advanced submarines capable of staying underwater for three weeks.

This major project would solidify Mazagon Dock’s position in India’s defense manufacturing space, driving strong investor sentiment.

Mazagon Dock Share Price history

Day Open Close Change %
Wed, Jan 22 2025
₹2,355.00
₹2,287.75
-2.73%
Tue, Jan 21 2025
₹2,460.00
₹2,351.85
-3.55%
Mon, Jan 20 2025
₹2,320.00
₹2,438.45
+5.33%
Fri, Jan 17 2025
₹2,246.80
₹2,315.05
+2.98%
Thu, Jan 16 2025
₹2,254.70
₹2,248.15
+0.85%
Wed, Jan 15 2025
₹2,255.00
₹2,229.15
-0.11%
Tue, Jan 14 2025
₹2,057.80
₹2,231.55
+10.02%
Mon, Jan 13 2025
₹2,165.00
₹2,028.30
-8.76%

 

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